Time to clean up your contacts If you're getting more bounce backs on email campaigns, you probably need to update your contact lists. "If real estate agents don't clean up their list often, they are wasting marketing resources," says consultant Nia Pearson. Full Story: REALTOR® Magazine (10/26)
How to create a quality customer journey enabled by tech A tailored customer journey that fits your industry and branding is an important factor in winning sales, even as more people rely on technology, says Georg Thingbo of Pexip. "It often comes down to industry knowledge and human interface simplification," Thingbo writes. Full Story: Forbes (tiered subscription model) (11/1)
Real Estate Trends
California metros among priciest for construction workers The San Jose, Calif.; San Francisco; Los Angeles; and San Diego metropolitan areas top Construction Coverage's list of U.S. areas that require the greatest number of weekly hours that construction workers must put in to afford a median-priced home. The problem is compounded by inflation-adjusted wages, which have fallen since 2020, and rapidly rising mortgage rates. Full Story: Winston-Salem Journal (N.C.) (11/2)
How the latest interest rate hike could affect consumers For the fourth consecutive time, the Federal Reserve has announced a 75-basis-point interest rate hike. Consumers are already feeling the impact from previous rate hikes in the form of higher rates on mortgages, credit cards and other kinds of debt, but they also benefit from higher interest rates on some savings vehicles. Full Story: CNBC (11/2)
Schwab mulls offering clients loans Charles Schwab is considering adding client lending to its offering after finding success in the mortgage market through its Rocket Mortgage partnership, company executives said at the Schwab Impact conference. "As we look at [the] longer term ... we do want to look at what we can do to help you in the more esoteric loan spaces, whether it's unsecured loans or loans against more esoteric collateral," said Charles Schwab President Rick Wurster. Full Story: ThinkAdvisor (free registration) (11/2)
Designers look to red tones for splash of color Red tones for interiors are trending, with paint companies naming it the color of the year for 2023. "Post pandemic we all relish more color—and particularly bringing warmer inviting tones into our homes," says Joa Studholme of Farrow & Ball. Full Story: Livingetc (10/31)
Technology & Innovations
Teabags inspire construction efficiency A box with compartments to contain different varieties of teabags is used to illustrate Austria-based STRABAG's strategy to achieve greater efficiency in the early stages of design and construction. "The tea box is the building. The tea bags are the standardized components that are installed in the building," explains Konstantinos Kessoudis, head of BIM/5D Development at SID. Full Story: Redshift (10/25)
'Dorms for adults' on the rise again in New York The co-living housing model, in which strangers live together in a dormitory-like apartment, is making a comeback in places like New York City following a loss of interest during the pandemic. The rise of "dorms for adults" has drawn the attention of authorities, who are watching for potential code violations. Full Story: The New York Times (11/2)
Legislation & Regulation
Fed lifts key interest rate another 75 basis points The Federal Reserve has implemented another 75-basis-point increase to the benchmark interest rate, noting the central bank remains "strongly committed to returning inflation to its 2% objective." Chair Jerome Powell has said policymakers will consider a smaller rate increase at a December meeting but has signaled high rates might remain in place longer than expected. "The question of when to moderate the pace of increases is now much less important than the question of how high to raise rates and how long to keep monetary policy restrictive," Powell says. Full Story: The Wall Street Journal (11/2),The Associated Press (11/2),The Hill (11/2),NBC News (11/2)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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